🌐 Sony is preparing to make a move that just a few years ago would have seemed completely unthinkable for such a traditionally cautious corporation. According to Nikkei, Sony Bank – the banking division of Sony Financial Group – plans to launch its own U.S. dollar–pegged stablecoin in 2026. The initiative is aimed exclusively at the American market, which is key: it accounts for about one-third of Sony’s external sales of gaming, media and anime products.
The project is expected to be used within the company’s digital entertainment ecosystem – from purchasing games and in-game items to paying for subscriptions and media content. In theory, the stablecoin should reduce transaction costs that today arise when using traditional payment methods such as bank cards. For a corporation the size of Sony, lowering fees even by a few percent translates into tens of millions of dollars in savings.
Photo https://www.cryptowinrate.com
To strengthen its presence in the U.S., Sony Bank filed an application in October for a local banking license and entered into a partnership with Bastion – a company specializing in stablecoin issuance infrastructure. Essentially, Bastion will become the technical core of the future coin, while Sony will focus on distribution and integration across its services.
Korean giants have also entered the stablecoin race
Meanwhile, South Korea is seeing its own battle unfold for the right to be the first to launch a won-pegged stablecoin. Two tech giants lead the race – Naver and Kakao, and both seem to have decided it’s time to catch up with the global trend before Japanese and American competitors move too far ahead.
Senior Tiger Research analyst Yoon Seung Sik notes that Naver’s position looks more favorable. The company is awaiting approval of its merger with Dunamu – operator of the Upbit crypto exchange, which has more than 10 million users. If the deal goes through, Upbit could become the ideal platform for distributing Naver’s stablecoin. In addition, the coin is planned to be integrated into the Zepeto metaverse (400 million participants) and the popular image-sharing service Snow.
Kakao is not planning to retreat either. The company owns Kakao Talk – the country’s largest messenger with 49 million monthly active users. Through its partnership with the Coinone exchange and the creation of a specialized task force, Kakao is preparing its own stablecoin architecture and holding discussions with both local and international partners.
Regulation hinders startups and giants alike
One nuance: private companies in Korea are not yet allowed to issue stablecoins pegged to the national currency. But the authorities are trying to change the situation – pressure on regulators is increasing as the global market rapidly moves forward.
The ruling Democratic Party has already demanded that the Financial Services Commission (FSC) present a regulatory proposal by December 10. FSC chairman Lee Eok-won acknowledges that the country is lagging behind the U.S. and Japan in the pace of creating a regulatory framework but emphasizes the need to minimize risks. The main restraining factor remains the Bank of Korea.
The central bank fears that won-pegged stablecoins could trigger large-scale capital outflows, weaken consumer protection and undermine monetary policy. An additional concern is the risk of losing the peg in stressful conditions, which could threaten financial stability.
🔥 Nevertheless, the market is already beginning to stir. In October, IQ and Frax launched the KRWQ stablecoin pegged to the won. However, residents of South Korea still cannot use it – the restrictions remain too strict.
All content provided on this website (https://wildinwest.com/) -including attachments, links, or referenced materials — is for informative and entertainment purposes only and should not be considered as financial advice. Third-party materials remain the property of their respective owners.